Many moons ago, I worked for a tyre manufacturer with a good line in calendars (nuff said)

Due to the efficiency of the plant, their business was booming and they had a strong export record.

Enter Mrs T and exchange control relaxations: within 6 months, all sales were being factored through a bank in Lugano, who would invoice on at much higher prices. Margins were reduced to about 2% and in no time at all this previosuly thriving concern was making a significant loss, as a result of which myself and half the workforce were made redundant.